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on november comps. gap, macy's, target, all disappointing. is it all due to sandy and what does it mean for the holidays. >> tiffany is not a statement on lucksy, but rather company specific. >> quite near meets with the president today. . >> and we have another upgrade for research in motion. this time at goldman-sachs saying the blackberry 10 will not only beat expectations but also put the company in the black by fiscal '14. >> target, macy's and kohl's reporting unexpected declines. number of retailers blaming sandy for the lackluster results, david and jim. they say the second half of the month wasn't so bad, but still a lot of white knuckles as somebody said about the holidays. >> i think that one of the untold stories may still be exactly how bad sandy was. sandy is going to turn out to be a $100 billion storm. but i think it's a shutdown. it was the shutdown of a major part of the infrastructure of the nation. i'm going to go with the retailers who blame sandy. i'm going to take them at face value. >> so macy's they say record setting volume when it comes to thanksgiving, but th
money angle covered. >>> also day 6 since superstorm sandy hits, chaos from gas shortages still reign. we've been hearing this will be over but how long will it take to end. >>> people say the economy doesn't care who is elected president. two all-stars will duke it out. even when they say it's not it is always about money. melissa: first up, let's look at the day's market headlines. investors were on cautious footage day before the election. a choppy day of trading eventually led to small gains from stocks. the dow rose 19 points. apple sold three million new ipads over the weekend. ipad mini officially hit store shelves on friday. shares of apple rallied on the news, closing up more than 1%. shares of netflix, jumped 2%, a shareholder plan to prevent a stile takeov by the company was approved by the board. activist investor carl icahn disclose ad 10% stake in netflix last week. our top story, the day before the big day. obviously all eyes are on the election the final result will have a huge impact on your money. everhing from taxes to health care costs. here for a quick roundup, is
, but not broken. coming up, inside lady liberty for a look at the damage left behind by sandy to see what needs to be done to get this american icon back up and running. dermatologist recommendedcer ] aveeno has an oat formula, now proven to build a moisture reserve, so skin can replenish itself. that's healthy skin for life. only from aveeno. make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. since ameriprise financial was founded back in 1894, they've been committed to putting clients firs
cost ello. this hour, superstorm sandy has a cruel, cold kitchen following in its footsteps. this new storm is lashing the northeast with snow, rains and wind and hitting the very same areas struggling to recover from last week's devastation. up to eight inches of snow in some areas and power outages from delaware to maine. chewing into the coastline, leaving hundreds of thousands without electricity and heat. rob marciano is on new york's staten island, one of the hardest-hit areas from sandy, where residents now face a whole new set of problems. i just can't imagine the misery there, rob. >> reporter: no. the people that live here, just trying to survive here, they couldn't believe it was happening last night as well. snow was coming down, much more than we anticipated, matter of fact. we got probably four or five inches of it. the sun is trying to break through. the snow is done. that's good. at this time during sandy, the water was up and over my shoulders. homes like this off their foundation f their home was still standing, the bottom floor is completely gutted and brought in ac
superstorm sandy. to alison kosik live for us in new york at the stock exchange. what are you learning? >> what are we learning? gosh, what we learned that sandy did quite a number on new york city, and now the damage estimates are tallied up and new york city's mayor michael bloomberg is asking the federal government for $9.8 billion, with a b, $9.8 billion to help in the recovery. follow me here. that's after starting with the city's total public and private losses which were estimated at $19 billion, and then you break that out, so about $4 billion was covered by private insurers, about $5 billion expected to come from fema and then come up with the $9.8 billion figure which is just part of the $30 billion aid package that new york governor andrew cuomo has requested. what mayor bloomberg has done, brooke, he sent a letter to the members of the new york state congressional delegation asking for this money, saying, new york city will struggle to recover in the long-term unless this money -- this federal funding is given. >> was he being specific as far as where in the city the money
it inappropriately. they're going to blame sandy, chris christie paul ryan. they're going to blame voters for being dumb and voting against their interests. i think and i've said this president obama because mitt romney was the w candidate at the wrong time. i think he would have won in 2008. he needed a time machine. a bad year to be the guy running against universal health care when you crafted a similar piece of legislation in massachusetts. running on a message of business and success and capitalism when that's demonized in the class war. it was just the wrong fit for this year. >> steve? >> yeah. you know guys i mean, this was obviously a momentous win for obama and the democrats and a lot to dissect in terms of demographics and where politics in this country go from here and something to be said for the idea that obama in the campaign was in lot of people appreciated. political scientists who sort of step away from the day-to-day campaigning and look at the structural factors said obama's is50% for basically this entire year. unemployment rate was high but it was slowly c
's bringing the northeast once again to its knees. thousands of superstorm sandy victims in new york and in new jersey enduring damaging winds and driving snow and bitter cold temperatures, all in the dark. as of 3:00 this morning, there are close to 700,000 customers in new york and new jersey, who don't have power. that number's rising. more than 1,500 flights have already been canceled, and just when service on the long island rail road was returning to normal, it was again suspended last night. team coverage of this early winter storm. susan candiotti is with us live from asbury park in new jersey. rob marciano is live in staten island, where they are reeling from last week's hurricane. so much damage there, rob. good morning. >> reporter: good morning, soledad. boy, they didn't need this. and we didn't actually expect to be this much snow. we knew there would be some snow, but not to the point where it was piling up. so this is an area where during the height of sandy, the storm surge was up and over my shoulders. so most of these homes, at least their first floor has been wiped
of -- in the aftermath of hurricane sandy last week. >> if the president of the united states does something good, i'm going to say he did something good and give him credit pore ifor it. but it doesn't take away for a minute i was the first governor in america to endorse mitt romney, that i traveled literally tens of thousands of miles for him, raised tens of millions of dollars for him. >>> hurricane sandy doesn't explain the gop's decisive demographic depete. exit polls show republicans lost by wide margins among latinos, african-americans, asian-americans and women. >> you cannot dodge, i think, the reality that the republican party has a woman problem. men are supportive, women are not. you got to look at it. >> what's happened with the republicans is they are the republican party a madmen party in a modern family america and it just doesn't fit anymore. >> in hindsight, senator marco rubio would have been the best choice to run with mitt romney. the gop needs to send a powerful signal to hispanic voters that the party respects them. >> conservative radio host though rush limbaugh fired back. >
a 1,000 mile hurricane sandy, we're talking about little else for three weeks, haven't you. there's a message from sandy. that is, we have to change our lives. that is a more radical change than going to computers and having the ups truck deliver it instead of getting up on the highway yourself. it is very carbon intense to get into the traffic jams to buy things that are sweatshop products that came 3,000 miles from china. the marketing, the packaging, that's all oil and gas derived. that's bad for the earth. we have to change. we have to stop being consumers. >> but the reality is that's not going to happen. >> here it comes. the reality. >> come on. think of it. >> i have the faith. alex. >> that having been said, you're also looking at this in a macro picture. when you look micro, look from house to house. what about all those folks who don't have jobs who are getting out there, job hunting. they want to work part time holiday shopping, sales, things like that. tough to buy for their families. there's all kinds of things whether it's a hurricane sandy event or losing a job whe
with president obama on hurricane sandy and voters are loving it. so why are republicans ignoring his example? >>> we'll tell you why mr. 47% really is mr. 47%. you'll love this story. >>> plus, speaker boehner got a big surprise today. why are naked people in his office? stay with us. sometimes what we suffer from is bigger than we think ... like the flu. with aches, fever and chills- the flu's a really big deal. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies. prescription tamiflu attacks the flu virus at its source. so don't wait. call your doctor right away. tamiflu is prescription medicine for treating the flu in adults and children one year and older whose flu symptoms started within the last two days. before taking tamiflu tell your doctor if you're pregnant, nursing. have serious health conditions, or take other medicines. if you develop an allergic reaction, a severe rash, or signs of unusual behavior, stop taking tamiflu and call your doctor immediately. children and adolescents in particular may be at an increased ris
? >> retailers like macy's finally quantifying the effect of hurricane sandy. walmart kicking off black friday earlier than ever. we start this morning with the markets looking to bounce back from yesterday's selloff and nearly 1313 drop in the dow. europe on wall street's radar after the ecb and bank of england kept key rates unchanged. draghi holding a press conference right now saying he sees economic rekafr ri remaining weak and reforms are crucial to boosting growth potential on top of greece passing an unpopular package of austerity measures on wednesday and necessary for greece to receive another round of international financial aid. china's ruling communist party congress con vealing today in a leadership change. so much to digest overseas, jim. what came out of the ecb is expected. came out of greece seems to be largely expected. but spain still resisting. a bailout. that's trouble. >> i know. every day the crucial -- that's the crucial link. you have to give them the good loans. take away the bad loans. create a situation of two banks and they're gone from 760 to 708. i think that th
, they went looking for sandy island believed to be as big as manhattan shows up right here on google earth. but the scientist's ship sailed right through the spot in the sea where the island should have been. so it's a little bit of a mystery, joe. what happened to the island? it's not like islands just disappear every day. >> well, that's pretty amazing. you would think by now they have pictures from outer space. >> well, you know, they kind of -- they narrow in, zoom in, it looks like it's there, looks like it's real but apparently something happened. >> that's amazing. >> one of the mysteries of the world. >> you bet. thanks. >>> when you think of president obama, you might not think of designer clothes and accessories, but his campaign staff did. how they made tens of millions of dollars off of it. [ gordon ] for some this line is a convenience. how you doing today? i'm good thanks. how are you? i'm good. [ gordon ] but for others, it's all they can afford. every day nearly nine million older americans don't have enough to eat. anything else? no, not today. join me, aarp, and aarp foun
. nor on the sentencing later in the hour. >>> folks in the northeast hit super hard by sandy are dealing with even more misery today. a nor'easter has now hammered the region with fierce winds and heavy snow. thousands of people in new york and new jersey who just got their power back on are once again without electricity in bone-chilling temperatures. debra is talking to folks in the garrison beach neighborhood of brooklyn queens. deb, tell us, a lot of folks, it must be devastating. they haven't had power since sandy, and now they're coping with yet another storm and the possibility that they're not going to have a power for quite some time. all right. i understand that we've lost deb there. we're going to get back to her as soon as we can. want to go and see if we can move on and we'll bring that to you later. people who, of course, are struggling because of sandy, they are getting a break from one wireless provider, thank goodness. they get some kind of break. verizon says it's going to waive all charges for text messages and calls between october 29, november 16th for th
in the national title game. >>> superstorm sandy no longer dominates the national headlines but certainly if you live in this area you know it's still very much a crisis for people living in those hardest-hit areas. we are going to go live to new york's rockaways coming up next. s that make kids happy. and even fewer that make moms happy too. with wholesome noodles and bite sized chicken, nothing brings you together like chicken noodle soup from campbell's. it's amazing what soup can do. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. 100% new. 100% mmm... wow, that is mmm... it's so mmm you might not believe it's a hundred calories. new yoplait greek 100. it is so good. new yoplait greek 100. the wheels of progress haven't been very active lately. but because of business people like you,
from superstorm sandy. let's go "outfront." good evening. "outfront" tonight, markets tanked. the day after president obama wins a second term, the dow has its worst day in a year. the dow finished the day down nearly 313 points. for the first time in three months, it closed below 13,000 and when you look at the broader markets, all were down 2.5%, so is the election really to blame? "outfront" tonight, michael farr, author of restoring our american dream. good to see you. i know there were a lot of markets often go down on the day after an election and they're worry about the fiscal cliff and europe. -- >> you really can't tell. certainly we had a couple of point run-up prior to the election and then this morning without the distraction of all of a political punditry and bluster, we see marcus all of a sudden come back down. perhaps investors confronted the fiscal cliff and what's going on in greece. they need another $40 billion. china's slowing and we've got 2% gdp growth. fairly tepid. >> the credit rating agencies, the we couldn't make a deal last time around. fitch was one of th
were canceled due to sandy. as a result, analysts projecting the storm could knock upwards of $200 million off of airlines bottom lines and that could mean a further dip for the global airline industry as profits are already expected to be down more than 50% year over year. that's according to the international air transport association. for more on business travel new, head to to roadwarrior.cnbc.com. . up. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.
think the numbers are awful. >> sandy and fiscal cliff, a powerful combination. >> i don't want to shop. what does that mean if i don't want to shop. >> all retailers are doomed. >> frightening concept if i don't want to shop. >> i don't believe it. i can't believe it. >> i can't seen summon taking my debit card -- i wanted to go to the mall -- >> if that's not enough to get lawmakers' attention, i don't know what is. >> rise above, congress. that's what that says. >>> groupon tumbling market. missed wall street forecast. blaming weakness in europe for the shortfall. the stock has fallen more than 80% so far this year up. take a look at any metric and what you're seeing over the past three quarters there's a market decline in everything. in every important metric of its business there's a decline, including revenue growth. >> one of my favorite lines in this, what i regard as being almost a -- those remembering the dear soviet union they would put out -- soviet troops doing well in afghanistan. the best line is as discussed in our last call to understand the numbers, you have to dig bel
. on the fiscal cliff negotiations. >>> allstate says superstorm sandy will cost it more than one billion dollars. the insurance company says 2/3 of the losses are in new york state, with the rest in new jersey and other states. sandy is expected to be the second most expensive disaster in u.s. history behind hurricane katrina. allstate is the largest publicly-traded home and auto insurer in the united states. >>> your holiday travel plans will cost you more this year. travel sites orbitz and kayak predict travelers traveling to top destinations will pay 8% more than they did last year. that is the latest from the fox business network, giving you the power to prosper. lori: both political sides publicly acknowledging that fiscal cliff talks are making very little progress. i'm shocked. melissa: it is shocking. lori: now president obama is meeting with chief executives for the second time in two weeks. can the business community muster pressure to bring parties closer to a deal. lou dobbs is here with his take. you must be surprised as well, sir? >> i am a little surprised. both sides said they wi
down amid controversy about the utility's performance amid the devastation of hurricane sandy. he said he had been planning for months to resign. >> there was a story, lead story about long island power and how awful -- >> governor cuomo set up a group to go looking into how all of these power authorities actually performed during this. >> there are crazy things going on in my neighborhood too where these guys are working hard and they come from all over. some union -- some non-union guys were turned away. other ones, i heard, standing around, they didn't know where to go. it took a long time, when they did come, they weren't aware we were still down, we had to flag people down, two full weeks. anyway, back to the tuna story we promised you. fishing experts are meeting in morocco to discuss the future of the blue fin tuna. participants are expected to call for an increase in quotas for tuna. the blue fish has begun recovery in recent years after at one point being on the brink of extinction. in japan, as you can imagine as the world's largest tuna consumer. sushi, right? >> right. >> e
problems along the east coast after sandy. there are a lot of issues along the supply chain that really need to be corrected perhaps before we get to these projections, even if we're able to produce as much oil as the international energy agency is saying, will we have the infrastructure to support it at that time before 2020? >> you're mentioning an important point here. infrastructure is needed. with our experience when you start to produce infrastructure will follow, so it's either we are investing as oil companies or we're asking oil companies to invest in the mid stream and to the downstream which is pipelines and terminals, refineries et cetera. i think these will come. clearly the company needs more infrastructure, like light oil or oil shale gas is not in the normal centers like we used to have at the gulf coast, et cetera, so therefore investments in pipelines, gas facilities and therefore also refineries will be very important but normally when the natural resources are there, the investments are coming. let me also be clear, we need an energy policy which actually sets the ri
's interesting, because the cbo believes that. >> we had hurricane sandy that disrupted the economy for a period. we had katrina years ago. there are things that will disrupt the economy. 9/11 was an extraordinary case. but we have a very resilient economy. we've had one for hundreds of years. and the fact that they can't get along for the month of january is not going to torpedo the economy. >> so i want to make clear, he wants to see a deal made. but he says, you have to be willing to go past december 31st. if you need to, you have to make every attempt to reach a deal. but he says, quote, don't roll over and give away the store. he sees the president in his second term being able to hold a very hard line. bottom line, you know where he stands on taxes. he wants them much higher. >> talking about taxes, how much higher? >> that's the question, getting specifics. i asked him that on capital gains taxes, money made off of investment, but also on income taxes for regular people. take a listen. >> are you saying there's no taxation level that's too high? whether it's capital gains or investments o
for mitt romney. the president captured just about every other group. and just over a week after sandy devastated the northeast, a powerful new storm brings more misery to the hardest hit areas. we want to welcome our viewers in the united states and around the world. i'm wolf blitzer. you're in "the situation room." >>> president obama's due back in washington in the next hour. a triumphant return to the white house that will be his home for another four years. a bitter election campaign ended with the president taking virtually all the key swing states beating mitt romney just about every place where it mattered most. but congress will remain divided meaning democrats and republicans must immediately start finding some ways to deal with the prospect of an urgent new financial crisis. in his victory speech, the president said americans voted for action. and he's already called congressional leaders to discuss his agenda. the house speaker, john boehner, says both sides now must work together. and he hints at compromise on tax reform. in the end, president obama won just about all of t
, including aiding the enemy. >>> lady gaga is pledging mon $1 million to victims of hurricane sandy. she says fans in new york city made her the artist she is today. >>> we are expecting an update shortly from governor chris christie on the nor'easter that has hit the region on the heels of superstorm sandy. certainly adding insult to injury. >>> plus a cabinet shakeup ahead. what the president's team will look like for his second term. who might stay, who might go. we'll talk about it. ♪ [ male announcer ] the way it moves. the way it cleans. everything about the oral-b power brush is simply revolutionary. oral-b power brushes oscillate, rotate and even pulsate to gently loosen and break up that sticky plaque with more brush movements than manual brushes and even up to 50% more than leading sonic technology brushes for a superior clean. oral-b power brushes. go to oralb.com for the latest offers. >>> president obama has a slough of big issues and big challenges on deck as he moves into a second term. one of the biggest priorities on the foreign front, ongoing instability in syria and conce
of others. let's get started at capella.edu >>> first super storm sandy, now another storm. hundreds of thousands of new yorkers still left in the dark tonight. where is the power? what's being done to bring it back? this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. >>> up close tonight, a first look at the previously unknown secret operation the obama campaign used to defeat mitt romney. as you've heard about or as you're about to learn, this operation was so highly organized, technical and computerized, could become a template for future campaigns. president obama spent months on the campaign trail of course but so did mitt romney. the president shook hands, posed for photos with voters. so did mitt romney. so what was the ultimate difference between the two in terms of their operations? well, obama's data mining operation m
. we are, in the weeks ahead going to get some very bad economic statistics from hurricane sandy. very bad. it might even look like a recession. will the stock market be able to see through it or will they get more fearful that the earnings cliff is going to turn into a recession cliff. >> we had our macro policy hearing and what we discussed was the impact on sandet and impact on the scomplekz we've taken the gdp numbers for the first quarter down below 1%, largely impacting the definite economic impact that we'll see from sandy and the potential economic impact from the election, but as we roll into the spring of next year, say the second, third quarter, at that point the drag from economic growth from sandy becomes a positive impact. >> phil orlando, where are your favorite investment sectors? where are your best ideas right now? >> right now, we've sort of pulled in our horns and neutralized the portfolio in terms of equities and fixed income. we are watching very carefully the rhetoric. i was encouraged by speaker boehner and the president today, but right now we just need some mo
chief, speaking this morning. >> some important comments. hurricane sandy was directly in his district so he made some comments about it. he said that the damage was worse than first anticipated. that's something we've been talking a lot about. original number was $50 billion. it's in the $70 billion to $90 billion range. it is probably going to shave a quarter to half a point off gdp. you talked about the fiscal cliff which he says congress and the president must address. he says because we're at the zero balance, interest rates were zero, the effect of the fiscal cliff is getting much worse than if the fed were not at zero. >> because they could do something. >> the only positive thing which dudley did not talk about but it is something that's on the radar is that, as the fiscal cliff fears rise, interest rates fall on the 10-year. so the effect the fed would have from easing is already in -- already happening as a market reaction. >> steve, thank you. >>> when jeff kilburg is not fired up about the irish he is fired up about what mr. dudley said today. why? >> absolutely. he came ou
attention to the northeast and weather. a week after being battered by sandy, storm stricken areas are bracing for a nor'easter as hundreds of thousands do not have power and a new flooding threat looms. want to check in with meteorologist todd gross back at hq. >> it's more than that. there's a real threat of significant snow in the new york metropolitan area and that's one of the things we're going to be discussing because there are still leaves on the trees, my friends, and that does not bode well as we saw one year ago when you have leaves on the trees and wet snow, it can be a major player in how the storm ends up. i'll explain what i mean. first of all, if you look at the satellite and radar combined, you can see the bright colors moving in on long island and moving in on new jersey. that is the actual first wave of precipitation coming in from this knockout nor'easter. there's already big winds from the storm. the big winds are in eastern massachusetts. nantucket gusting to 50 miles an hour already. there may be minor coastal flooding from the jersey shore through long islan
. road to recovery from superstorm sandy is agonizingly slow for so many in the new york area and the new jersey area. this morning more than 600,000 people are still in the dark. can you believe that? 600,000 people still don't have power. >> we don't have power. >> you still don't have power? >> no. >> we just got power then it went out again. >> that's not just from sandy. you still don't have it from sandy. >> correct. >> some people don't have it because the nor'easter came through and knocked down power for some people who got their power restored. new york city and long island have done what new jersey has done, the odd/even system of gas rationing. it begins today in new york. and long island. fema trailers are now en route to areas of new york and new jersey that were the hardest hit by sandy. cnn's susan candiotti is back at asbury park, new jersey. how is it going there? still no power for many of the folks there? >> that's right a lot of people, hundreds of thousands of people here still without power in new jersey. let's start by talking about the gas rationing. there's nothi
after superstorm sandy. now one man is in charge of helping them. ♪ ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now -- but hurry, the offer ends soon. >> he is now the man in charge of helping the areas hit by super storm sandy recover, here is mary snow. >> reporter: sean donovan and janet napolitano came here. to date, some 32,000 people in new jersey with depending on the federal government to live in shelter website hotels, and temporary apartments. what normally is a busy thorough fair is now a feignful reminder of what was. sandy's storm surge devoured home after home. >> where are you living now? >> i'm at a friends house. i have been like a nomad, here, there, whoever has room, cousins, stuff like that. >> best case scenario, he will be without a home for a year. and he's not alone. >> we have families out for a long rebuilding process, where homes have been completely destroyed. and our experience is that a small group, but some families, it will take years. >> overseeing the rebuilding is
. fedex office. >>> welcome back to "squawk box." in the face of destruction from superstorm sandy, how is charitable giving standing up this year? join success gail mcgovern, president and ceo of the american red cross and gail, thank you for joining us this morning. >> thank you, becky, for having me on the show. >> we've been watching what's happened with superstorm sandy. we know the red cross has been one of the organizations that has risen to the forefront of this movement to try and help people. what happened in terms of charitable giving for superstarm sandy? >> my heart goes out to the people affected by superstorm sandy. i have talked to so many people who have lost everything including loved ones and it's just heartbreaking and i also want to thank our generous donors. they've stepped up and we're doing everything possible to put their hard earned dollars to work. this has been a massive operati operation. we've served 7.3 million meals and snacks in four weeks. in terms of how it will impact giving we recently did a survey and what we learned is that three out of four people
sandy. >> i thought that the ceo of pbh told an amazing story. a gigantic number of stores were taken out by sandy and yet he still was very confident about the numbers. i will say -- i've been very negative about jcpenney and stocks not doing anything, he did say pointblank that jcpenney had a really good, really good black friday. >> really? >> i want you to remember, jcpenney is going big using a heritage brand that had plus seven comp number. i have to point it out. i've been negative on jcpenney. what he said was he has seen some acceleration of sales there. i don't know if that means profits. >> how narrow is that in terms of their channels and does it -- as we watch jcpenney shares reversed on your remarks just now. >> knight capital reversed on your remarks. >> my remarks were based on something that was happening. >> that shows you that people watch this show more than -- i think it's emblematic -- i was in jcpenney recently. i bought a really nice hat. for weather like we had yesterday. a lot of what's happened at jcpenney is to embrace the brands not unlike what macy's has
of things. sandy continues to make me feel these numbers are too difficult. i find them unfathomable. the speech is about way too much unemployment and very unfathomable in terms of the actual destruction. you got numbers from two different governors. they are unusually low. i don't trust any number during this period. >> especially the number we'll get a week from today which estimates for nonfarm are not that good. 75 maybe. sandy will continue to ring in our ears for the next few weeks. >> and then i believe you're going to get when you get supplies rebuilt and enough bricks and enough lumber. did you see that lumber hit a six-year high yesterday. >> wow. >> copper. a lot of people talking about short buy on copper. everyone saying it's about china. a lot of copper comes from scrap and the scrap in the northeast where there's a huge amount of copper, it's extraordinary. a lot of equipment is stalled. >> think of the copper wires here downtown eroded because of exposure to salt water that need to be replaced. >> when i hear the things that have been thrown away, the 500,000 cases o
to third quarter gdp on thursday. here with what to watch for including effects from superstorm sandy is steve liesman. >> good interview on blackberry. a week to pay attention to the data. it will be affected by hurricane sandy making it difficult to figure out underlying momentum. gdp is not one of the data points. we put an asterisk next to data potentially affected by sandy. some worry that markets won't see through sandy effects and could walk away with a bearish look. there's durable goods potential effect there down 1.3% after a surge the prior month. consumer confidence, probably not. new home sales certainly in the northeast have potential. moving on to thursday. jobless claims. definite potential there and pending home sales. not gdp. this game at the end of the quarter or after the quarter had ended. now let's look at jobless claims data here. do we have that? i think we do. there we go. there's hurricane sandy. hurricane katrina. you can see it's following a very, very similar pattern there and the expectation is that it will come down again on thursday to 390,000. one mor
york and new jersey need at least $71.3 billion to recover from the devastation of super storm sandy and prevent similar damage from future storms. this is according to the state's latest estimates. that total of course could grow. steve liesman has been crunching the newspaperup i numbers and hn the next hour. this is to try to build up some sort of protection, some massive floodwalls. governor cuomo was saying this would be like $9.1 billion to start building. >> questions about the future of the sec following mary shapiro's exit. elyse walter could run the agent until december 2013 when she would have to be renominated and reapproved by the senate. among the issues, and ongoing battle over regulating the $2.5 trillion money market fund industry, some 63 unfinished rule making requirements that are all part of dodd-frank and continuing fears of course about market stability and high frequency trading. p. >> money markets used to be covered by the fdic when the crisis first came on. >> and also worth pointing out, there was one failure of mary sha piro's time in office, shall was th
't moving in pennsylvania. and they felt at that point they were flattened by sandy. i don't think this race was close enough to be impacted by a hurricane. >> no. >> but that's certainly what they believe. >> chris christie, yes, springsteen's his buddy, and springsteen may have brought him over. i think that people -- i was in ohio a couple weeks ago. you know, there's great wealth in ohio. there are companies that have given out billions of dollars to people in ohio because there's oil and gas everywhere. and the whole northeast ohio was flooded withal abouts of dollars of oil money. those people are not unhappy. >> andrea, we saw it early on, and we were talking about how the right track/wrong track in ohio shifted six months ago. mitt romney, i think, one of the pivotal moments when mitt romney told john kasich, stop bragging about your economy in ohio. ohio was a leading indicator. >> it was a leading indicator. you know, the other thing about that mitigates against agreement is the people who were elected in the house, and they picked up seats. the democrats did miserably. i think you
sandy and the nor'easter which hit the region last night. those power outages are making it very difficult to get gas and new york mayor michael bloomberg has signed an emergency order instituting a gas rationing policy today. he estimates only 25% of the city's gas stations are operating and we're finally starting to get estimates on how much that superstorm will cost. new york cover andrew cuomo said sandy inflicted $33 billion in new york state day lone. new jersey was hit harder. these numbers will be astronomy cal. the family of robert champion jr. has rejected a settlement from florida a&m university. he died after being beat on a bus as part of a hazing ritual conducted by the university's marching ban. 14 people were charged with criminal hazing. the attorney says $300,000 is the maximum amount allowable by law but the family's attorney called the offer an insult. it has been 462 days since this country lost its top credit rating. what are we doing to get it back? the fiscal cliff is still there. still weighing on stocks. the dow fell another 121 points. the nasdaq and s&
sales today, not great. maybe sandy affected even though the government said it wasn't. the economy's okay. it may be more of a 2% plus economy in the fourth quarter than is being given credit on the street. it's not gang busters. the question has been for a long time -- by the way, there's some headlines from the beige book. you can see it really did affect the northeast, new york, and new jersey especially. so we'll see some of that in the data in the months ahead. we'll be seeing some rebuilding going on. you know, i would not make a call here on the economy, scott, to say go ahead and invest in the economy. after the fiscal cliff everything is fine. i think there's a reason for cautious optimism, but i don't think there's a reason to think it's going to go gang busters. >> we saw harry reid speak yesterday. the market moves when we see different comments out of washington. we saw it again today on this perception that was actually positive commentary. our bar has gotten pretty low. we see stocks move around a lot. what about interest rates? are they responding as much? >> well,
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